FISCAL NOTE
FUND(S):
Public Employees Retirement System
Sources of Revenue:
Other Fund Investments
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The IMB will incur administrative cost in overseeing the loan authorized by this legislation. The most significant cost will be related to the audit and valuation of the loan.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2011
Increase/Decrease
(use"-") |
2012
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
10,000 |
10,000 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Annual cost for audit and valuation is estimated to be $10,000.
Memorandum
It is undetermined if the bills provisions are appropriate for an investment by the IMB. More in-depth analysis is required.
Person submitting Fiscal Note: Matthew E. Jones, CFO / COO
Email Address: matt.jones@wvimb.org